QQQ ~ Three Pushes to High
已更新
A “three pushes to high” top often develops as a leading edge of a larger, longer topping formation. This scenario may be a reliable indicator of decreasing momentum.
The way it typically forms is as follows:
1. The first push creates a new high outside the upper band.
2. The second push makes a new high and touches the upper band
3. The third push makes a new high, but within the upper band.
~As we review the QQQ, it has made the 3 consecutive steps.
(This technical analysis was discovered by John Bollinger and was taken out from the Book "Bollinger on Bollinger Bands")
There is also a head & shoulders formation (in blue). If we make a measured move from the neckline to the head. It is about a 8.4% move. Placing that move (in a red arrow), takes us to the 200sma.
I will keep this post updated if any pattern has been negated or my views have changed.
The way it typically forms is as follows:
1. The first push creates a new high outside the upper band.
2. The second push makes a new high and touches the upper band
3. The third push makes a new high, but within the upper band.
~As we review the QQQ, it has made the 3 consecutive steps.
(This technical analysis was discovered by John Bollinger and was taken out from the Book "Bollinger on Bollinger Bands")
There is also a head & shoulders formation (in blue). If we make a measured move from the neckline to the head. It is about a 8.4% move. Placing that move (in a red arrow), takes us to the 200sma.
I will keep this post updated if any pattern has been negated or my views have changed.
註釋
Yesterday (march 2nd) we had a market internal bearish signal called, the Hindenburg Omen. If you would like to read more about it; I recommend using the following link.
It is written by one of my technical trading teachers.
trade2win.com/articles/2012-teutonic-trouble
註釋
According to InvestorBusinessDaily, yesterday (march 4th) marked the beginning of the correction; as a cluster of distribution days have been made.
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